Singapore's Digital Hub Partners with Chainlink to Develop Blockchain-Based Tokenization Infrastructure

ABU DHABI FINANCIAL FREE ZONE INKS MOU WITH CHAINLINK TO ADVANCE TOKENIZATION FRAMEWORKS

Abu Dhabi, United Arab Emirates - The Abu Dhabi Financial Free Zone (ADFFZ) has signed a Memorandum of Understanding (MoU) with Chainlink, a leading provider of blockchain-based data oracles, to advance the development of tokenization frameworks.

The partnership aims to leverage Chainlink's expertise in blockchain technology and data oracles to create a secure and transparent tokenization framework for the ADFFZ. This framework will enable the zone's companies to tokenize their assets, such as real estate and commodities, and issue digital securities on the blockchain.

The ADFFZ is a key hub for financial services and trade in the Middle East, and the partnership with Chainlink is seen as a significant step forward in the zone's efforts to become a leading center for fintech innovation.

"We are excited to partner with Chainlink to develop a cutting-edge tokenization framework for the ADFFZ," said Ahmed Al Sayegh, Chairman of the ADFFZ. "This partnership will enable our companies to leverage the power of blockchain technology to create new financial instruments and increase liquidity in the zone."

Chainlink's tokenization framework will provide a secure and transparent way for companies in the ADFFZ to issue digital securities, such as stocks, bonds, and commodities. The framework will also enable the creation of new financial instruments, such as decentralized finance (DeFi) products, and increase liquidity in the zone.

"We are thrilled to partner with the ADFFZ to advance the development of tokenization frameworks," said Sergey Nazarov, Co-Founder of Chainlink. "Our technology will enable the zone's companies to create new financial instruments and increase liquidity, while also providing a secure and transparent way to issue digital securities."

The partnership between the ADFFZ and Chainlink is expected to have a significant impact on the fintech industry in the Middle East, and will enable the zone's companies to stay ahead of the curve in terms of innovation and technology adoption.